The Board of Directors of Wendt (India) Ltd. approved the unaudited financial results for the quarter and nine months period ended 31st Dec’2022.

Standalone results:

On a standalone basis, the company achieved sales of Rs. 4691 lakhs during the Quarter ended 31st Dec’22, which is 30% higher than the corresponding quarter previous year (YoY). The domestic sales were Rs. 3470 lakhs during the quarter ended 31st Dec’22, which is 24% higher than the corresponding quarter last year. This is on account of higher sales to almost all user industries like auto, auto ancillaries, engineering, steel, bearings, glass, etc.

Exports were Rs. 1221 lakhs during the quarter ended 31st Dec’22, which is 47% higher over the corresponding quarter last year. This is on account of higher offtake from countries like US, Russia, Indonesia, United Kingdom, Spain, etc.

The Profit After Tax (PAT) for the current quarter is Rs. 1145 lakhs, which is 69% higher than the corresponding quarter last year (YoY). The increase in profit is majorly due to higher sales and continued focus on operational efficiency measures and cost control.

On a Sequential basis (QoQ), the Standalone sales for the quarter ended 31st Dec’22 is lower by 1% with PAT higher by 23% against quarter ended 30th Sept’22 of the current year.

The company achieved total sales of Rs. 13710 lakhs for the nine months period ended 31st Dec ’2022 which is 20% higher than the corresponding period last year with PAT of Rs. 2767 lakhs, 45% higher than the corresponding period last year.

Consolidated results:

On a consolidated basis, company’s sales stood at Rs. 5084 lakhs for the current quarter which is 25% higher than corresponding quarter previous year (YoY) with the PAT of Rs. 1007 lakhs, which is 81% higher than the corresponding quarter last year.

On a sequential basis (QoQ), the Consolidated sales for the quarter ended 31st Dec’22 is lower by 2% with PAT higher by 1% against Quarter ended 30th Sept’22 of the current year.

The company achieved total sales of Rs. 15047 lakhs for the nine months period ended 31st Dec’22 which is 16% higher than the corresponding period last year with PAT of Rs. 2730 lakhs, 39% higher than the corresponding period last year.

Dividend

In line with the good performance, the Board of Directors are pleased to declare an interim dividend of Rs. 30/- per share (300% on face value of equity shares of Rs. 10/- each.).